As a seasoned researcher with over a decade of experience in the cryptocurrency market, I’ve seen my fair share of rollercoaster rides. Today, however, feels like we’re gliding on a gentle upward slope. The positive momentum is palpable across most coins, and it’s always a refreshing sight to see Bitcoin (BTC) and Ethereum (ETH) climbing together.
A new week has started positively for most of the coins, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has increased by 1.55% over the last 24 hours.
On the day-to-day graph, Bitcoin’s price has increased following yesterday’s bullish close. But, if today’s candlestick ends significantly away from its high point, there could be a delay in further growth because there might not be enough enthusiasm among buyers.
Bitcoin is trading at $62,952 at press time.
ETH/USD
Ethereum (ETH) has followed the growth of BTC, rising by 1.81%.
If ETH‘s price seems to surge past the $2,499 resistance level, but then falls back down, it might be a false breakout. If buyers don’t manage to take control by the end of the day, there could be a correction towards the $2,400-$2,450 range.
Ethereum is trading at $2,470 at press time.
XRP/USD
XRP is not an exception to the rule, going up by almost 1%.
Looking at the technical aspects, the pricing pattern for XRP resembles Ethereum‘s. The cost of XRP has recently rebounded from its resistance point, which stands at around $0.5445.
Until it is below that mark, traders may witness a drop to the $0.53 zone by the end of the week.
XRP is trading at $0.5369 at press time.
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2024-10-07 17:28